Millennial College Graduates May Never Own Their Own Homes

Kyle is an entrepreneur and nomad who has been living abroad since 2016. He blogs at This Is Trouble. Follow him on Facebook.

In February of 2016, I walked out of my corporate job for the final time to my new life of freedom. I anticipated several years of being a poor digital nomad, scraping by with $1,000-$2,000 a month until my businesses got some traction, or I had to return to the rat race.

But things ended up way better than that within a short time period. So much so, that I began to research the idea of buying a home in one of my favorite adopted Eastern European cities. The criteria was relatively simple:

It had to be in a “East-Central” country that had some Western perks but was not so far gone in the liberal cesspool, like Germany or France.

It had to have a very anti-immigration policy bestowed within it’s political culture. I have no interest in buying a home in a city, only for it to turn into a dump within a few years.

It needed to be reasonably sized (70 square meters or bigger), and while not in the direct city center, within 1 or 2 metro or tram stops.

Priced between $200,000-$300,000; my goal was to have a monthly payment of less than $1,000.

This left me with the Czech Republic, Hungary, and Poland. All are places I enjoy. The simple goal of this investment was to buy a property in up-and-coming areas that will likely continue to grow over the years. The plan was to Airbnb it out for most of the year, and maybe live in it sometimes myself. Or, depending on local laws, simply rent it out to a local on a yearly lease and try to eek out a bit of profit.

I was not looking to get rich off of this. I merely hoped for maybe a couple hundred dollars profit a month, and to get in before prices potentially skyrocket in a few years. I am okay with even taking a small monthly loss on it, if it came to it.

The Situation Millennials Face

Note: I realize these numbers below are applicable to California, and that the situation is vastly different in other parts of the US.

As the end of 2017 approaches, I realize what a shitty situation many college graduates are truly in. To give some perspective, my parents bought their first house at 25. I was born when my father was 27 and mom was 26. To buy that first modest honest in a California suburb, I believe they paid about $250,000. They received the down-payment as a gift from one side of grandparents.

My first job in San Diego, post-graduation, paid me $54,000 a year. My take home pay off of that was $2,800 a month, or $33,600. I’d usually receive a bit back in tax returns at the end of the year, so let’s round up to $36,000.

When I lived in Los Angeles and worked as an engineer, I made $86,000. My take home pay off of that was $4,400 a month, or $52,800 a year. I’d usually receive a bit back in tax returns at the end of the year, so let’s round up to $55,000.

To buy that same house now that my parents bought in 1990 would probably cost upwards of $700,000. Let’s say I managed to put 10% of that home price down, plus get a 3% mortgage rate over 30 years. The numbers look something like this (keeping in mind a take-home pay of $4,500):

Of course, getting $70,000 to put down on something isn’t even realistic. When making that $86,000 a year, the cost of living was so high that I only managed to save maybe $500 a month. At that rate, it would take me 140 months, or nearly 12 years, to save the down payment. This would have put me at roughly 37 years old, and who knows how the prices would look then.

The 9-5 Model Doesn’t Work For Home Ownership

We can agree on that, right? The lack of true gains in 9-5 pay, combined with the housing price rise over the years, has resulted in your average college graduate being completely priced out of the housing market. I don’t think I need to make the argument that the true path to freedom these days is to build your own business or income stream—one way or another.

So, in my case, I did exactly that. I’m now making more money from online business than I ever did in a corporate job (more than double). Except now, because I’m self-employed, getting a loan from a bank to buy a home is completely out of the question. I’m not sure how the foreign banks will be, because I haven’t gotten that far in the process yet. But getting a loan from a US bank? Not gonna happen in a million years.

I would have never been able to save up enough money at my corporate job to afford a home, especially in California. So I migrated and built a business, and yet am still in the same position. Now, obviously this is wildly different circumstances—and there are many more nuances that go into buying property abroad. The easy solution is to just save the money and buy it in cash in a couple years, which is likely the route I’ll go. The other route is to start paying myself a “salary” from my company with me as the CEO, but that will still take at least a year or two of proving tax returns to qualify.

But truthfully, I don’t know know what’s going to happen to my generation. I don’t know a single soul who is roughly my age who owns a home. They’re all completely priced out of the market. It seems for the time being, most college grads are stuck in the ‘make 45k and rent forever’ market. And for the time being, it seems there isn’t an escape to that.

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128 Responses

He seems to think he’s entitled to buy property in Poland while he’s not a citizen, not even of any E.U. nation. Aren’t we exactly the types of people who are pissed off at wealthier foreigners buying our property and jacking up prices out of reach for the locals?

Like the Chinese in Vancouver, San Francisco, Sydney, Melbourne, Auckland? Or the Americans in Costa Rica? The Russians in Miami?

property in central & eastern europe is still fairly reasonable, but prices have shot up in parts owing to cheap ECB money (I assume). Expats are a part of that but probably not a huge part. Since these countries have immigration under quite strict control you are unlikely to get the kind of population pressures that have driven up prices in places like London.

property prices are unreasonable most places that are worth living in (and many less desirable as well) but I was under the impression that the property price to wages ratio was worse in the west – UK, canada, australia amongst others. In London for instance average property prices are apparently approaching 15 times the local wage, thereby pricing people out, whereas elsewhere it might be 8 or 9 times or less (still bad but comparatively doable). I’m not sure how that compares with central europe

Don’t be jealous. It’s unbecoming. We each have our own path. Being rich or poor isn’t measured in $$$ but in character. If (or when) the next major financial crisis hits and all our money and investments are rendered worthless it’ll be the people with strong character who survive best. Material wealth is a fake concept.

Same here. But being able to pay your bills is one thing, being jealous of someone else’s success is another. When the next financial crisis hits – which isn’t hypothetical, it’s a given – and people are feeling suicidal because they’re losing their homes, as long as I can pay my bills I’ll be fine. The main reason I’ll be fine is because I derive next to zero pleasure in material things. A house and a car and all that shit has only ever brought me short-term pleasure and long term headaches. I love Fight Club, there’s a whole speech in the film delivered by Pitt stating, “Isn’t it funny how the things you own end up owning you.” It didn’t make sense to me when I first heard that, but as the years go by and I travel more I realise the truth in those words.

I don’t buy Kyle’s numbers for a second. Not with his Alexa ranking, shitty site design, shady huckster approach and short online presence.

Roosh has been busting his balls and delivering quality content for many years and I’d be surprised to find out he’s pocketing six figures these days. Perhaps he was at one point, but his books have seriously dipped in Amazon rankings, the sponsored articles on this website are few and far between, Youtube has demonetized his videos and additionally Paypal fucked him in the ass. Roosh chose the path of truth and by doing so closed many doors and sources of revenue.

Then you have a newb like Kyle claiming in this article that he’s making “more than double” his take home corporate pay, so at least $6k a month, after two years online. Off what, exactly? His 330 subscribers on Youtube? His lackluster websites ranked 300k+ in the world? His IG with 7000 fake followers?

I’ve got nothing against Kyle. He’s a young guy who wants to make it and live a great life. All the best to him and his hustle. But anyone who believes it’s that easy to consistently make thousands each month just by blogging once a week and paying Vinny to pimp your IG is delusional.

It’s a pyramid scheme akin to that smarmy guy from those infomercials who “made millions placing tiny classified ads from his one-bedroom apartment”.

You’ll never really “own” your own home anyways, since we have this little thing called “property tax” which is basically paying another form of rent every year. That guy who “lives in a van down by the river”? HE is not paying a dime in any additional fees for where he is situated.

Most property taxes in U.S. cities go to the public school system. This means in cities like Atlanta/LA/Chicago etc, wealthier white areas of the city with near 100% home “ownership” are essentially paying for somebody else’s new generation zero-asset niglets and spicklets to attend public school for free, while they pay an additional $10k plus per year to send their own white kid to private school in order to avoid the joys of “diversity” (crappy qualified teachers, disruptive students, poor materials, being picked on for being white etc.)

At least if you “own” a home in Eastern Europe, your property taxes are still contributing to something which at least benefits your own kind. Hell, that would be the case in just about any country other than the Anglosphere + West/Northern Europe

I am an IT Engineer in a big German city, there is NO way I could afford any decent apartment here even less a house and everybody I know is in the same boat, heck most 40 and 50ty year old’s rent too. This is not just a question of having the right job, it’s the system that is all fucked up and it’s gonna stay that way till there is a total reset.

Remember it’s the government who can’t let the prices drop because their whole budget hangs on a thread and ie. asset prices need to remain high or higher for them to get their “planned” revenue.

It’s damn near impossible to move up the social ladder anymore even with a good job, whatever your family/parents left you with will be yours(minus taxes).

I heard that people don’t move in German in the same way as in places where property is seen as an investment before its a home. Also, doesn’t it depend a lot on the city in question? Surely Frankfurt, home to the finance is much worse than Berlin?

I reckon the trend of people-movement soon will be Millenials to the third world. Most of the urban professionals I know could take their job with their computer and the juice just ain’t with the squeeze in the West. Stand by for hipster cafes across North Africa, Central America and Indonesia. Soon, London and Los Angeles will be packed full of property-rich boomers and their 3rd World nurses.

Australian millennials and X’ers will be packing their bags for southeast Asia in droves once they get sufficient cash flow. That country is so god damned expensive, feminist, over regulated, and you can have your damn ‘barby’ (barbeque) and sunny beach anywhere in SEA at 1/5th the annual budget.

Indonesia has some pretty hardline restrictions on Aussies and other westerners being able to stay for long periods of time. They’d have to, otherwise Bali would just into Australia’s equivalent of Oahu.

Thailand and Malaysia have better infrastructure, less road insanity, and have good programs where people over 50 can more or less stay as permanent residents. They are easier to do visa runs as well, since they actually share land borders with other countries.

yeah, you seem to be right. I’ve been there before but can’t remember what visa I had. It looks like anything above 6 months (the max appears to be 5 years) requires a sponsor. I guess they’re kind of over-populated already (particularly in java) so that makes sense.

Latin Americans are a mixed population. There aren’t many “Indians” if any in the Spanish Caribbean where most people either have mainland Iberian, Canarian, or Sub-Saharan African ancestry. The whole notion of “Latinos are Mestizos or Amerindian” is a myth. Really only Peru, Bolivia, and a few Central American countries like Guatemala and El Salvador have significant Amerindian populations. The rest are heavily mixed and it is ridiculous to call them Amerindian especially the Spanish Caribbeans.

I know alot about Colombia and i concur Clark. One stipulation however:
Hablas espanol? Few speak english. One reason why is it not spoiled. No Toronto girls there yet.. triggered by your toxic masculinity.

It really is a California (or big city/coastal) thing. In much of the rest of the USA, a starter home can be had for under $100k and your monthly payment would actually be cheaper than renting an apartment.

Buying a house is for success in the U.S, unless you are wealthy enough to pay cash for it AND have a high enough “passive” income stream to assuredly pay property taxes (including projected 10 years out) along with estimated maintenance costs. Otherwise, minimalism, renting and even going Galt is a much better idea, period.

I make $68k yearly as an engineer and my wife works at Home Depot part time. We just barely afford our $140k house payment of $1100 a month and I am PRAYING my car doesn’t break down -again-before Christmas. We are the “almost renters”…..barely scraping by paycheck to paycheck. Oh yeah, I got divorce raped 13 years ago and have to pay child support of 600 a month which absolutely KILLS our budget so my ex wife can life with a professor who makes $100,000 or more. I know I am being a turd bitching about child support, I never should have married that idiot so it is all my fault. In 4 years I can fucking STOP PAYING.

In Europe, 68k is considered very good pay. For example in Stockholm average take a home pay is around ~2500 USD per month http://checkinprice.com/average-and-minimum-salary-in-stockholm-sweden/
And real estate costs also a lot in Stockholm. Of course taxes already include pensions and health care and so on and on.
How is that in US? Isnt there states where are no income taxes like Nevada? Do you have to pay health insurance and what does that cost?

The big problem Millenial college graduates, females in particular face is most of them graduate from useless “(insert idiotic, irrelevant social term/garbage nobody cares about here) studies” majors that offer no possitive value to society and are achieving nothing but leaving them thousands in debt.

Are you going to tell me a woman with an “Ethnicity and equality studies major” or a “Gender and Woman studies” major is useful to society in any meaningful way?

But to be honest even most STEM degrees these days offer little of value to a consumer culture. It’s not like we’re building anything tangible in the West anymore. Gone is that satisfaction of intricate creation.

At best we’re mentally masturbating “innovation” with social media websites, but that’s just ephemeral nonsense.

We’re now a civilization of professional bloggers, makeup artists, coffee shops, and walmarts. You’ll be evaluated according to your ability to consume.

A few People own everything these days. Half my friends parents have over ten houses in the most expensive real estate in the west and my Father is in the same boat with just under ten. Some guys own hundreds. My dad can get cash on low interest rates because he is well trusted by the banks with 30 years paying many mortgages and most can hardly get anything.

Last generation had all the chances and this generation so many guys i knew from private school are basically on stipends its like the 1900s lost generation times a thousand. The poor are very poor and the wealthy kids live insane lives of degeneracy. Lots of older folks have 5 houses at least in the west and some have hundreds. many these days have nothing and canot get anything either as the prices are too high.

Build your own business and raise at least one of your sons into that business and pass it on to him. Convince the other sons to become either doctors, lawyers or something else equally high paid, or to start their own business as you did.

This will keep wealth in your family. If you split ownership of a family business between multiple children you up the chance of it failing or being sold. Selling it gives money to the banks because usually some of it is financed.

Same with your home. Give it to one child. Chose the one most likely to choose to live in it. The other option is for your children to sell the home and split the money, and then they go out and buy their own homes. This also finances banks on both sides of this deal.

But Kyle is correct that more people need to abandon the 9-5, and abandon 4 year degrees, to build their own businesses. People abandoning 9-5 will not only benefit themselves, but it will raise 9-5 wages as the talent pool dries up and companies pay more to keep talent around.

I always find it funny how delusional idiots like Kyle Trouble migrate to other countries and then plead for anti-immigration policies. Eh…you fucking idiot. What are you? You’re an immigrant yourself. Or do you feel entitled to Eastern Europe because you share the same skin color as Slavic people? It’s not your ancestral homeland, so you’re not entitled to it.

You’re nothing but a giant cuck, who writes bullshit articles to earn some money. Oh, and bullshit books you can’t sell (so you promote them here) and building bullshit websites in the hope you’ll get rich with the advertisement income.

You should be able to save more than $400 a month on $4,400 of take home pay. You just have to live like a pauper if you want to save up 10-20% of a downpayment for a home in a short period of time.

Likewise, buy a 2 bedroom condo or something really cheap as a first home, and get roommates to pay your mortgage (or pay it down quicker if you prefer). Don’t expect cheap real-estate if it is a place everyone wants to live like California.

I am an ethnic Hungarian living and working in Hungary.
I have a university diploma.
I have perfect English language skills.
I have 10 years of work experience in my white collar profession.
The most I have ever earned was around 800 USD/month.
The only way I would ever own a flat is if I inherited one.
So what the fuck?
Money is just a Jewish scam. Money is just paper with numbers printed on it, .
The numbered papers of the Jews must not have any influence over if I can seduce and fuck a girl or not.

It seems to me that lots of guys treat money as a cheat code or shortcut to pussy. So wrong.
Essentially these guys put the females on the piedestal, thinking they have to get rich first in order to even measure up to those “princesses”. And the worst thing is, due to their male thirst, these guys spend so much money on worthless females, who will then get carried away. These males are ruining the game for everybody else, including themselves.
I suspect I have a little MGTOW in me (although I am more of a Game guy in reality), because I think the serious pursuit of money comes only when a guy decides to start up his own family, gets married and have his own kids. But not before.
Going to great lengths and efforts to have lots of money, only for having some slutty women spread their legs? It does not worth it. Why should I spend big on some slut who would not even piss on me if I were on fire if I did not own a big house and a fancy car? Forget it ladies.
Game is key. If you are not able to make women stand in attention when you are broke, then a 100 million dollars will not give you that skill. You will be only ripped off, nothing more.

Dude this is so fucking true. The problem with some MGTOW types on the other end is they conflate their lack of success with women on the fact these women didn’t think they were rich enough.

Men have largely bought into the feminine lie about wanting a provider. But then when you look at the guys women are around and they are turned on by, you don’t see these guys simping or buying them shit at all. I think also many women are dishonest with themselves when they say they want a provider. At their core, yes they need providers. But the way Western society is they truly don’t. What many of them want is to get fucked hard by a guy they perceive as hot and not some schlub who buys her shit. That will turn a woman on 1000x more than his house, car, etc. This is shown by the fact many rich guys still get cheated on by a woman who thinks little of him. They’re not necessarily fucking another rich guy either. Alphafux betabux

I’m in my late twenties and own property (though not a house – poor investment today tbh). I work 55+ hours a week, but I’ll stack paper and invest enough so that when I’m 35-40 I can leave this place and life off real estate and day trading.

Just don’t rack up a ton of college debt, work in an industry and for a company that rewards entrepreneurship and hard work (could be your own), and don’t buy the new Apple dumb shit that comes out every single year.

Generation X is having a hard enough time taking care of themselves. Doubtful there will be much inheritance to pass down to them. Gen x is approx 45 million people. Boomers were 70+ million and Millenials are about the same amount. We’re a thin layer sandwiched between two fat pieces of bread trying to soak up what we can bring to the party.

I’m fortunate to own a home in Melbourne but I fear for the young ones in the future. The house prices here are ridiculous, even way out in the boondocks. Tax-dodges, foreign buyers allowed to snap up what they like, and Government lacking balls to tackle the issue. I’ve taken out life insurance so even if I die the house gets paid off and given to my kids, can’t see how they are going to be able to afford 100k deposit in 10-15 years time when average wage has not increased by CPI in realistic terms for years.

And if the dementia afflicted Trump nukes Korea then there will be Millions of refugees fleeing here too.

The issue is that biulding houses costs almost nothing and land is plentiful.

The problem is planning and taxes means where in past generations farmers in booming areas would biuld hundreds of houses on their land according to strict quality rules these days you must get planning cutting out 95% of land, and costing fortunes where you can get stuff through.

GET RID OF PLANNING PERMISSIONS as we didnt have it for hundreds of years. Merely ensure the quality of the houses being biult. There will be some downsides but the upsides for the young will be magnificent. Often planning taxes can workout at 100K+ or more per apartement so obviously they will sell for a lot. You can make a 2bed 2 story terrace just on biulding costs for 50,000 and essentially the rest of the cost is all to some extent the cost of scarcity and largely regulation.

California boomed but farmers of old would have profited and sold up to builders or built villages on their farms but the stupid planning laws were the start of these bubbles as houses became scarce and thus investments.

Usually local counselors who control the planning also benefit themselves from the scarcity as home owners and are nimbies.

Societies functioned well for hundreds of years without them. If these laws werent around anybody with land would have no trouble biulding their children houses.

Nobody will biuld more than is needed so there is no worry about overbiulding. In old when some mine opened up they biult a city for nothing but these days when some industry is opened the prices grow crazily and the odd biulding gets passed by tough planning systems which essentially create a system where only some dodgy folk can actually get anything through and created a race to the bottom.

Planning systems mean that if a boom happens the bottlenecks become crazy as it just cannot accommodate the growth whatsoever where without planning farmers would biuld as required.

The fact that our societies are falling further behind in terms of housing shows how bad planning systems are. Actually
the nasty folks who get past planning then biuld shit houses where strong regulation is needed on the quality but not quantity. nobody would build an unneeded house.

Funny how Aussies have this hang up about Trump. As if Hillary Clinton would have been a better choice.

Trump is smarter and more courageous than any leader your country has ever produced.

And Australia sits on a really thin branch; at the foothills of Asia, tonnes of Chinese pouring in, they OWN most of your assets and resources, their military is four times the size of yours, your population is disarmed on a flat geography that does not favor insurgencies, and all you got is a non-binding ANZUS treaty to protect you and a light infantry filling up with WOMEN.

Tenochtitlan. So right. When i hear an Aussie put down Trump i immediately think ‘Cucked’ by the media.
“..Tax-dodges, foreign buyers allowed to snap up what they like, and Government lacking balls to tackle the issue..”
Lacking the balls? They are making a fortune off of it while getting patted on the back by boomers thinking about their big retirement nest eggs including social security cheques and premium pensions.
Trump sees whats happening and is saying no this hyper-immigration and globalism.
Re. Rocketman. Who cares about his neverending posturing like the chihauhau does entering your grandmas house?

I find it amazing that the author focuses on California prices, like CA is the only place worthy of buying property. Why would you want to be a part of that BS real estate bubble again, much less buy a crappy ranch style house built in the 60’s for “Ouch” 700K. Watch Property brothers on HGTV and see what I mean.

Hey Einstein. If you make 80,000 a year don’t buy a house worth $700,000. Your before tax annual salary TIMES TWO should be the most expensive house you try to buy. Not everyone needs to live in Southern California.

The examples he cites at least involve people earning a salary, ostensibly at regular jobs and not short term contracts. For so many millennials, that in and of itself is a pie in the sky concept. Instead of permanent employment, they’re stuck in this bullshit “gig economy” driving for Uber and slinging java down at Starbucks. This doesn’t even get into the massive amounts of college debts they still carry, often acquired during the pursuit of bullshit majors.

It’s tough to have a lot of sympathy since so many of them are snarky, Antifa loving asshats crying about Trump getting elected while hoping some communist like Bernie will relieve them from their student loans they willingly accepted. Go blame your parents – they’re the ones who lied to you about how the world worked and sheltered you from reality.

True, back in the 90’s when I was a teenager you worked at fast food when you were 15 or 16. Now 30 year old college graduates are doing it.

The economy of the United States has boiled down to one choice-working in food service doing a teenager’s job.

It is shocking. When I left the US in 1999 I never thought the 1% would be so completely amoral as to reduce the rest of society to the sort of serfs they now are. But clearly they show no shame at all.

No wonder Gen Y cannot get laid. You live with your parents when you are 25! Gen X could move out when they were 18. That is what everybody did.

That is true. I grew up in white working-class environs and most people are dictated by 20 square miles of circumstances.

Let us focus for a moment on “white flight” or “urban decay”. Blacks, for example, are trapped somewhere because they have kids at 19 and no education and no money. So when the white man moves 100 miles away they complain about “tax money” leaving the area and then eventually their city becomes like Detroit or St Louis.

My Aunt was a dim working class woman who lived with my grandmother (German immigrant) her whole life in the house that was once worth $400,000 and when it was finally sold it was only worth $80000 because my aunt was stupid and lacked the initiative to move.

This is the case for all white trash shitheads. They will sit in a town in the rustbelt hoping the “jobs will come back” and the Blue State people won’t give a shit and even when their city looks like Flint and the water is undrinkable the rest of the country STILL WON’T GIVE A SHIT that you have to drink it.

As for women, once you are overseas the sight of new women tends to cause you to forget about some cunt you loved once. Soon you are fucking exotic women and experience the joys of new female flesh-and most guys will do this anyhow at the risk of the marriage so the fact that a relationship broke up when you were young just saves you the community property bullshit and alimony and child support.

Some fools on this site are townies who have never traveled and will talk about their location “is a pretty great place to live” because they have no perspective.

Move to another country and start fucking exotic women and stop caring about the stupid minorities who clog up white societies whether Muslim in Europe or Aztecs and blacks in the US and then come back to me and tell me that you want to go back to that “pretty nice place to live”.

On one occasion I asked an old college acquaintance whatever happened to “Scott” (My college pot dealer and a phone salesman).

“Oh he lives in a trailer with his mother” came the answer.

And that about sums it up. You can stay in a shitty area and work hard in shitty jobs and nothing will ever change and one day you will wake up at 40 and live in a fucking trailer with your mother.

Like alot of Gen X Scott just thought the good time would roll…he was a typical working class white from Detroit of Polish-American extraction.

He dropped out of high school and got a GED. No probs back in 1990 at 16.

I met him 5 years later and he was working in call service and selling marijuana to college kids.

He was into the grunge bands of the time and dresses in the usual grunge attire. I must have known 1,000 Scotts in 1995.

As it happened Scott was dating a college girl named Tasha. He got her pregnant.

Anyhow, I moved overseas in 1999.

Years later I contacted old friends and asked whatever happened to him. Of course the economy was outsourced and he ended up without a pot to piss in a brave new world where you have to have a degree to serve coffee.

Alot of working class whites and slackers I knew ended up that way. They came of age in the 90’s and figured that they were being rebellious by going to Green Day concerts and getting $10 tattoos and having the Ethan Hawke attitude. Then about 5 years later 9-11 happened and the whole 90’s slacker cynicism thing went out of style and they just seemed like loser to Gen Y who were at least bonded by 9-11.

A good proportion of working class whites I knew were ruined by meth which has given way to Oxy.

You had to be alive in 1998 to remember how hilarious white tweakers were acting in places like Arizona. I moved out of my apartment and one I knew broke in to try and rip me off after I WAS GONE and was arrested.

Ultimately alot of Gen X just had to move home at 35. The McJobs evaporated and you get kind of tired of having roommates when you are in your 30’s anyhow. No chance of owning house.

Yeah but you can get those in just about any country. If you are from Detroit like I am (My Dad was a marine biologist and my mother was an architect so I am middle class but this does not mean shit in a collapsed economy) then why get a good job in a shithole?

If you make $7 self employed (half of your 13-14) and you work 6 hours a day you will ~$1050 per month or $12 000 per year. This is horribly poor in the US and EU, including eastern europe. Is it not?

But yet there are 3rd world countries where you can live quite ok with just $400-500 a month. You will have a modest home, a modest car, cell phone, internet, good food (steak will be about $6 for 1000 grams).

This will allow you to save $ 500 per month (just like the article says) as well.
But you do NOT have a corporate job. You are NOT location dependent. You are free to move as you wish. You are free to work the 6 hours whenver you want. 3 hours in the morning and 3 more from 8-11pm? Sure.
No time to commute, you can have home cooked meals, spend time in your private gym if you feel like it and so on and so on.

The best comes last. The home prices in this same area will be cheap as hell. People there are making $300 average per month and you will be able to buy a nice home in cash for about $100.000 (or a decent one for 50.000).

With saved 6000 a year it will take you about 10-15 years to buy this house in cash.
This is not a very long time, considering that you will have it debt free.
If you start doing this in your early 20s you will be debt-free home owner by your mid 30s (what would be the perfect time to start a family) with plenty of free time to enjoy your youth with just 6 hours work a day.

If you think it is difficult to make $ 7 hour this may not work for you. But then, what will?

I have a pretty strong argument that owning your own home is NOT a wise decision. Here’s why:

1. A 30 year loan is a big undertaking when you get laid off every 5 years. There are no more “lifelong” jobs. Our grandparents and parents lived in the manufacturing age of America. They were probably “lifers” at a plant or business. Today’s new business model in America is mostly digital agencies and startups that collapse or sell out in 5 years. 99% of the employees need to find new careers. (Or worse, government agencies that only hire and promote based on diversity! ) Millennial are predicted to need to change jobs 4 times every decade!

2. Divorce rate is rapidly approaching 70%, so your wife’s lawyer will pressure you to sell the house so she can have her split.

4. Over 30 years, with the numbers in this article, you end up paying $1,062,000 for a “$700,000” property. That’s an additional $300k. What makes you so sure it will go up in value and not DOWN? (In the past 30 years, my dad has paid for well more than his home is worth). Maybe the neighborhood will go to shit like my old neighborhood.

5. You just dropped a $70,000 down payment on principal. You could have invested that in a diversified portfolio at 4-8% and made earnings on it.

6. You’re stuck. If your neighborhood turns to shit, or you lose your job, your wife leaves you and wants half, while the market is down, you have to sell and lose your investment.

So if you do the math on the extra money spent on interest, upkeep, and the probability of having to move for your work, downsize, get a divorce, and the potential market dips or crashes, it’s not always a great investment. It’d be better if you could get someone else to rent the place and pay it down, but then again, if the market dips, you’ll be losing money every month. I know plenty of friends and family who lost money on real estate, and even more who paid WAY more than their shithole house is worth.

Smart man! Investing is wise. Investing in real estate used to be that. With the way the world works now, mobility is a greater asset. I have gotten lots of accomplished by not being limited to geography.

Just don’t marry white women is all i’ll say. Get a decent north Asian as so long as your loyal and you work you can keep her. White women have crazy divorce rates with all relationships but white guys have many good options just not with white women who are players and not serious.

Not buying gives you flexibility to move about thats true. The repairs is true but you can also improve the house and essentially add value.

Why will prices go up still? Because the more banks can be assured that people will repay the more they will loan and hence the more prices will go upwards.

They are better and better at tracking poeple around the world for debts, for screening people for credit based on lifestyles and algorithmic data and court systems are getting better at getting debt back hence they will loan more and more and so prices will keep rising. They have more to loan than they lend its just about knowing who is the safe bet and getting it back and they are getting better at doing both.

Its a gamble but beig an owner rather than a renter is a certain prestige. For all of history renters were suckers who didnt get rich but stayed poor why is it gonna change now? Just get in some city since chicks wanna live in cities and thats thus were people are going.

What do you mean? I have nothing but a high school diploma and a smile! I live and work in beautiful East TN and am well on my way to owning my own home and two vehicles doing blue collar factory work. Hot, sweet southern girls everywhere. It’s not that hard guys, really. Find somewhere with a reasonable cost of living

Ironically all those factory rust belt jobs are moving to the south. The company I work for is hiring 1000 people and expanding. So are dozens of others around here. Kind of refreshing in this day and age. I grew up in West Virginia and lived in Chicago for some time-bleak is right. My entire family lost their jobs when Clinton got elected. I’m talking every man, woman, aunt, uncle, grandma etc.

Think outside the box! There are tons of places all over the country (and the world) somewhat off the radar that are naturally beautiful, have a thriving local economy, and are full of quality people and wifey material women. Find somewhere with a
real sense of community- life becomes more fulfilling in a lot of ways.

I bet those Jews out in LA and NYC are sure glad they are not a rural or exurban white in the Flyover who needs a job to come back because some Indian from the jungles of Southern Mexico just took his.

The beleaguered cuck cannot hear you. He is too busy Keeping Up with Kardashians whose Dad was the butt-boy lawyer of a two-time serial killer who like to cut up Jewish waiters and German trophy wives and watching his sister give birth to more Mulatto because she fell in love with a Hoodrat. His television shows and films dreamed up over Jews doing Tequila shots and grams of cocaine are far more important than reality, which is too hard to face.

He has to remember all the PC slang like “culture shaming” in order to keep his shitty job whose real wage has not risen in 20, 30 years.

His banker’s penis tastes better than the penis of George Bush tasted back in 2000 when all the rural and exurban whites were talked into voting for him because he told them he had stopped drinking and found religion after being an alcoholic bum his whole life and then spent trillions on wars that did nothing but send refugees into Germany who were better off under gangster despots and chase a load of Pakis around the sandboxes of Kabul.

Let us be honest that Red State voters led the US into its post-Bush decline. Gore might have been a BIT better.

We have to thank the hillbillies and proles out there in the flat lands and Dixie swamps a little bit for being so bamboozled.

At any rate there is no money to build bridges or overpasses. Not after 16 years of stupid wars housing credit crunches and outsourcing to China so that the GDP is one big consumer economy. The US does not PRODUCE jack shit.

Taken into account that the Western Civilization won’t last long anymore, buying property in Eastern Europe seems like a reasonable choice. If I had the money, I would do the same. I would much rather invest in non-brainwashed countries, because they will turn out to be more stable in the long term. The rental income may not be great, but at least reliable (thanks to a lack of chaos in the streets and in the population as a whole). Besides, nobody will be strong, young and fit forever. Some passive extra income may prove very beneficial in old age. And one could even move to Eastern Europe, into one’s own apartment, oneself. If the streets in Western Europe will become less and less safe, cities like Wroclaw or Brno could have quite some appeal. Nobody can safe the world. There is nothing evil in safing one’s own future. When I’ll be an old woman, I will most likely feel safer in the East. I admire the people there for their strength of morals and character.

@MAH,
My health insurance costs $701 per month and my employer pays me $100 to help with that. It is a mediocre health insurance, but for the children we use a medicaid product called child healthy plus for which we pay absolutely zero copays nor deductibles ($30 each per child, included in the 701 above).

I absolutely have to pay income tax in NY state. I heard on the radio between property taxes, sales tax, income tax for federal and income tax for ny state we pay 50% per year in taxes!

Trust a guy who has left hiw country for 20 years. Living abroad is miserable. You end up very bitter and lonesome, missing your family and friends. Fucking thai or ukrainian whores all day long ain’t bringing happiness. I’m sick of those eastern europe discussions I’ve seen lately on roK. Being a nomadic parasite, that’s what you want ?

As a young man in shit jobs in Michigan the guy next to me at the Big Boy in the kitchen would go on and on about his child support and how he fucked the wrong bitch when he was only 18 and now he cannot go anywhere.

I thought to myself at that time i would not have kids and get stuck in the bleak flyover watching my kid get his ass kicked by blacks in shitty public schools.

“Living abroad is miserable”

In the news the same working-class whites I knew (I’m a bit more middle-class but not much) sit around saying they “want the jobs to come back” in places like Detroit. I’ll live in another country (Though Eastern Europe is not much different than the Polish-American neighborhoods of Detroit so I would not be there) rather than sit around wishing the “jobs will come back”.

Rather go somewhere to be productive.

“Missing your family and friends”

Everybody I knew moved from Detroit anyhow. In a “white flight” the Appalachians take the 1-23 South and the rest of the whites move to California, Canada, Chicago or anywhere that will take them. For that matter, whites in the US are descended from European nomads anyhow.

And if you leave the US young you lose touch with anybody you knew as youth.

The things you love and cherish now will not be the things you love and cherish in 15 years. Ask Roosh about that. We grow, men, and we’re supposed to grow.

I work with plenty of HS and college grads in their 20’s who are home owners. My own ingroup bias makes me think that the author is suffering from selection/sampling bias based on his own experience or that of the loudest crying millennials amongst themselves, but my younger subordinates seek out the work, and have to have already figured out that vocational training provides more early opportunities for widespread employment potential, so our more successful millenials are self-selecting.

Yeah, the truth is that we rush in to marriage and we buy giant houses and become slaves to both… those who are more wise with selection of both, do better.

The genetic imperative exists. Men WILL want to father sons as we age and grow. That happens. Many choose not to, and that’s fine for them, but the impetus exists and hits many men who don’t expect it. Having sons and a hot foreign wife is the best thing I ever did for myself. As for the gamble with divorce and loss… so what? We’re men. We build. We rebuild. You choose well and live righteously, and you live well. If not, not.
There are men who will drown in the shallow end of a pool because they’re so afraid to fail to touch bottom that they never even try. Millennials haven’t yet learned that this is something shameful. It’s also why they’re rarely self-employed and rarely entrepreneurial.

54000 dollars right after graduating? Wooow! I worked practically for free after graduating during the first year… And I was thankful I had at least a job related to what I studied (pharmacy) . Most of friends and people from my degree worked at McDonald’s and Co. I finally accepted I will not have the quality of life my parents had.Also we will have most likely to work until old age because people start to work seriously like when they are 30 or so and not enough children are being born to support our rents in the future.
Better not to think much about it. It makes me want to jump out the window. People like me born in the late 80′ early 90′ have it hard as adults.

Cannot help but feel sorry for you. When I was 25 in 1999 (Born 74) anybody with a high school degree could have a decent job.

Fifteen year old kids managed fast food restaurants, you never saw a 40 year old doing that.

No wonder Gen Y lives at home when they are 23. Of course you cannot fuck girls in your parents house so you have to jack it to internet porn all day.

As for population, don’t worry. The blacks, Muslims and some of the white trash will continue breeding until the government money runs out. Then they will come into your nursing home some day and eat your ass.

I don’t live in USA. When I finished university the youth unemployment rate in my country was at almost 45%. People that had study degrees like history or biology or stuff like that even if they had university degrees would not find jobs in their fields. I have only lived in my country and in Spain were the situation is even worse. People living at their parents homes in their late twenties early thirties are a common thing. If I didn’t live with my girlfriend I would probably move back with my parents just to save money even if I’m earning much more now than when I started. I thought about moving somewhere else but I don’t really want to.

Ain’t it sad. In the 1990’s when I was in my teens and twenties you turned 18 and moved out.

By 30, you owned a house.

Even people who left school at 16 could have a job.

If you lived at home when you were 20 you were strange.

Luckily the people who make porn and advertise on the internet will make money selling dirty pictures to males in the prime of their life with no chance of marrying or having a family who flog their dog all day in the very room they were born.

However the Muslims will reproduce on your tax money. So someday when you are 70 and finally the government runs of money to subsidize them their kids will come in and steal your meager possession and maybe eat you.

GenX
Bang on, but now it’s different and as a man far more difficult to own your own home in the west. For a start you would need to be gay or single, if you live with a woman it’s her home, and she can get you out at any time with one call to the police where you get to leave in handcuffs.
In the past 25 years the world has changed beyond all recognition or understanding for western men.

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